Global macro

• The Godfather of emerging Markets: the threat of inflation will not be eliminated for a while

The world's top fund managers may have underestimated the inflationary endurance of printing large amounts of money to combat COVID-19 's epidemic, according to Meiputh, the "godfather of emerging markets". This is a particular problem for the US, as rising inflation puts pressure on the world's reserve currencies. However, he also expressed caution about fully switching to value stocks: "the figures that need to be concerned are the return on capital and the dividend yield." But I think it's still a combination of value stocks and growth stocks. "

• Biden will preside over infrastructure negotiations, and there is little hope of a bipartisan agreement.

Some market analysts point out that US President Joe Biden will preside over infrastructure negotiations this week, but the possibility of a bipartisan agreement looks slim. Kevin DeGood, head of the infrastructure policy team at the progressive Center for American Progress (Center for American Progress), said in an interview: "the differences between the two parties are still very wide, not only on budget spending, but also on the substance of their respective plans and on what they are trying to achieve. "

• Soros's comrade-in-arms angrily denounced the Federal Reserve: the current monetary policy is extremely risky and in urgent need of adjustment

Recently, Soros's former military advisor and close comrade-in-arms Stanley Druckenmiller wrote a column in the Wall Street Journal that it is time for the Fed to maintain such a large balance of monetary stimulus in the post-epidemic era. He believes that given the risks and signs of a strong recovery, the Fed should do more than just recalibrate inflation expectations. The Fed should balance asset prices, not push them higher.

• It has nothing to do with the fundamentals, Xiao Mo: the callback of CNPC's net stocks provides a buying opportunity.

JPMorgan Chase & Co believes that although the uncertainty in the Internet anti-monopoly process hits the recent investment sentiment, the general Internet stocks will still rise in the future. Howard Wang, the bank's pan-China head of asset management, commented that the fundamentals of these companies are good, and if you take a long-term view of investment, now is a good time to buy.

• Us stocks fell before the day of the day.Large technology stocks fell and panic index soared

The futures of the three major US stock indexes fell before the day. As of press time, Dow Jones Index futures fell 0.76%, NASDAQ 100 Index futures fell 1.91%, and S & P 500 index futures fell 1.18%. Technology stocks continued to decline before trading. Alphabet Inc-CL C fell 1.99%, Yingweida 3.23%, Apple Inc 2.64%; new energy concept stocks fell, NIO Inc. fell nearly 10%, Li Auto Inc. fell more than 6%, Tesla, Inc. fell about 7%, XPeng Inc. fell 8%. The VIX "panic index" soared as high as 21.35.

• European Central Bank governing Council Villeroy: any talk about PEPP minus code is speculation

'There are two things that are certain about our monetary policy, 'Francois Villeroy de Galhau, a member of the ECB's governing council, said in an interview.

First, we will continue to make asset purchases under the PEPP program, which will continue at least until March 2022, during which any assumption of downsizing is pure conjecture.

Second, if the PEPP program ends in March 2022, we will continue to maintain a very loose monetary policy as long as necessary after that, as we still have four major tools at our disposal: asset purchases, TLTRO, negative interest rates and forward guidance.

• European stock markets fell across the board.

As of press time, European stock markets fell across the board, with Germany's DAX30 index down 2.27%, Europe's Stoxx 50 index down 2.21%, and Italy's FTSE MIB index down 1.97%.

Hot news

• Technology stocks are bleeding like a river! More than 90% of ARKK's positions fell, and fell more than 5% before trading.

Under Cathie Wood$ARK Innovation ETF (ARKK.US) $As technology stocks tumbled to a six-month low, all but five of its 58 positions fell, accounting for 91% of the decline. But Wood increased her bets in the recent downtrend after she said in a television interview that the sell-off in technology stocks was building up a strong rebound in her fund.

As of press time, ARKK was down 5.08% before trading.

• NIO Inc. will provide a number of smart electric vehicles to Sansha, Hainan, and build charging and storage facilities.

$NIO Inc. (NIO.US) $Weibo Corp released a message that today, NIO Inc. and Sansha City in Hainan Province launched a green island co-construction plan to promote the development of clean energy on the islands in the Xisha Islands. Through the joint construction of Green Island, NIO Inc. provided Sansha with a number of smart electric vehicles and built charging and storage facilities to tie in with the existing new energy layout on the island.

• Tesla, Inc. dived before the market, and the company's sales in China fell 27% in April compared with the previous month.

$Tesla, Inc. (TSLA.US) $Shares fell sharply in pre-market trading, falling about 6.75% to $586.59. Tesla, Inc. sells 25845 vehicles wholesale in China, according to data from the Federation of passengers. Although the result was better than in January and February, it was down 27.2 per cent from March's wholesale sales of 35478 vehicles. The report also shows that Tesla, Inc. 's cumulative sales reached 95125 vehicles from January to April. In April, the export of new energy vehicles showed explosive growth, with Tesla, Inc. China exporting 14174 units, the highest in a single month.

• Palantir fell sharply before trading, and the net loss on Q1 widened to $124 million compared with the same period last year.

ARK funds have heavy positions in hot stocks.$Palantir Technologies (PLTR.US) $The first-quarter results released before trading showed revenue of $341 million, an increase of 49% year-on-year and a net loss of $124 million for TX Q1, compared with a net loss of $54.3 million for the same period last year. After the announcement, Palantir fell 9.26% to $16.76.

• Dell CEO: chip shortage may last for years

$Dell Technologies Inc. (DELL.US) $Michael Dell, chief executive and founder, said in a recent interview that the global shortage of semiconductors poses a challenge to computer manufacturers. It is understood that the surge in demand for electronic devices, coupled with related political risks, has led to a shortage of chips, affecting production of products ranging from cars to computers and smartphones. "this shortage could last for years," he said. Even if chip factories have been set up around the world, it will take time. "

• The US technology giant has asked the US government to provide 50 billion dollars in subsidies for chip manufacturing

According to media reports$Apple Inc (AAPL.US) $、$Microsoft Corp (MSFT.US) $和$Alphabet Inc-CL C (GOOG.US) $The world's largest chip buyer is working with$Intel Corp (INTC.US) $The company and other top chipmakers have set up a lobbying group called the American Semiconductor Alliance (Semiconductors in America Coalition) to ask the US government to provide 50 billion dollars in subsidies for chip manufacturing.

• Sources say Foxconn's iPhone plant in India has cut capacity by more than half.

According to people familiar with the matter, a Foxconn factory in India$Apple Inc (AAPL.US) $Production of iPhone 12 has fallen by more than 50 per cent as many workers at the factory were forced to leave after being infected with novel coronavirus. The company imposed a ban on entry at the Chennai factory until the end of May, when employees had to leave and not enter the factory. More than 50% of the plant's capacity has been cut.

• Novak suffered a sharp setback before the day, and the approval of its vaccine in the United States and Europe was postponed to the third quarter.

Novax Pharmaceutical (NVAX.US) $It fell 13.26% to $139.21 in pre-market trading. The company said it did not plan to apply for COVID-19 vaccine licenses in the United States and Europe until the third quarter. Analysts say the vaccine results may not only be a matter of delays, but may even be obstacles that may prevent them from applying for emergency use authorization.

• Apple Inc faces a class action lawsuit in the UK for charging too much, and the amount of compensation may exceed 2.1 billion US dollars.
  

$Apple Inc (AAPL.US) $It faces a lawsuit in London accused of charging nearly 20 million UK customers excessive fees for App Store purchases. The plaintiff said in a press release on Tuesday that Apple Inc's 30 per cent fee was "too high" and "illegal". The lawsuit, filed in London's antitrust appeal court on Monday, seeks compensation from Apple Inc for years of overcharging iPhone and iPad users in the UK. They estimate that Apple Inc could face more than 1.5 billion pounds ($2.1 billion) in compensation.

• EU agrees with AstraZeneca PLC to delay delivery of Vaccine

According to reports, the European Commission is concerned about$AstraZeneca PLC (AZN.US) $The lawsuit for "failure to deliver the vaccine within the time limit of the contract" was heard in a Belgian court. EU lawyers said in court that the EU is willing to accept and agree that AstraZeneca PLC delivered the vaccine three months later than the original time limit in the contract, that is, to deliver 120 million doses of COVID-19 vaccine to the EU by the end of June.